High-asset divorces can sometimes get contentious. It is imperative that you take the time to think about what is truly worth fighting for and what you can let go without having to battle for it. Be sure that you base your decisions on what you need and not what someone else wants you to do.
There are several things that you need to think about when you are in this situation. Together, all of these points can help you to walk away with the settlement you deserve.
- Take stock of all accounts and assets. You don’t want any to fall through the cracks since that might mean that your ex gets more than they should and you don’t get what’s due to you.
- Don’t plan on making any large purchases until the divorce is over. You might be issued a financial restraining order that prevents you from making large purchases, even if they are on credit terms.
- Prepare for the valuation process. This might take time, but it is a vital part of asset division since not all assets are valued at what they are currently worth.
- Set your budget. This lets you know how much money you have to spend on things, including the upkeep of assets that you receive in the divorce.
As you and your ex work on the divorce settlement, you will have some decisions to make about various matters. Think carefully about these because they can affect you now and well into the future. Your goal is to have the settlement that sets you off on the best footing possible.